Financial service providers regularly provide accounts to consumers that enable the consumers to purchase goods against a line of credit. The understanding with such accounts is that when the consumer makes an authorized purchase at a merchant, the financial service provider pays the merchant for the purchase, and the consumer will pay the financial service provider back at some point in the future. At times, however, consumers may lose their credit cards or otherwise lose control of their accounts, meaning that an unauthorized individual could make fraudulent purchases using the account.
Often times, the risk of fraudulent transactions is borne by the financial service provider. Thus, many financial service providers have implemented fraud systems that attempt to determine whether a transaction is fraudulent. For example, if a financial service provider receives a $20.00 transaction request from a McDonald's in Arlington, Va. on Monday morning and also receives a $2,500.00 transaction request from a Home Plus store in Seoul, South Korea 20 minutes later, the financial service provider can deny one or both transaction requests because an authorized user cannot have traveled between both purchase locations in that short amount of time.
But most cases of fraud are not so obvious, and many fraud detection systems are known to have an unacceptably high false positive rate. Thus, transaction requests that are legitimate may be improperly denied. For example, if a consumer attempts to purchase a new television, the purchase may appear out of the ordinary when compared to the consumer's other purchases. The transaction may thus be denied even if the consumer has sufficient credit to make the purchase. This causes inconvenience for the consumer.
There is thus a need to address these and other issues. The present disclosure provides methods, systems, and computer-readable media to solve these and other issues.